From the Sector

• Rieter CAMPUS strengthens innovation strategy and technology leadership position
• Customer and technology center and administration building ready for occupancy in 2024
• Commitment to the Winterthur site and to Switzerland as a business location

On September 8, 2021, the foundation stone was laid for the Rieter CAMPUS on the western part of the Rieter site at the Winterthur location, which includes a customer and technology center as well as an administration building. The Rieter CAMPUS will make an important contribution to the implementation of the innovation strategy and to the enhancement of the company’s technology leadership position. At the same time, the investment of around CHF 80 million is a commitment to the Winterthur site and to Switzerland as a business location. 

With a floor area of over 30 000 m2, the Rieter CAMPUS offers space for around   700 ultra-modern workplaces. For this purpose, Rieter and a specialist in office architecture have developed a contemporary space concept for the “Open Space Office” that is tailored to the needs of the company, divided into meeting rooms, focus rooms and some individual offices. The underground car park provides   88 parking spaces, and a further 12 outdoor parking spaces are being created   in front of the technology center.  “In the course of its 225-year company history, Rieter has helped shape the city of Winterthur. The foundation for the future as a leading technology company is now being created with the new CAMPUS. In this way, Rieter is giving a clear indication   of its commitment to the Winterthur site and to Switzerland as a business location”, commented Bernhard Jucker, Chairman of the Board of Directors of Rieter Holding AG.

Innovation is an important part of Rieter’s strategy and crucial for the company’s success. For this reason, Rieter invests more than CHF 50 million annually in research and development. Thanks to this commitment, Rieter is making a   decisive contribution to the further development of systems for sustainable yarn production and their digitization. The Rieter CAMPUS will provide an attractive working environment that promotes creativity and innovation.  The new CAMPUS is a showcase project in terms of economic feasibility, energy efficiency and sustainability. Rieter relies on renewable energy for construction. This includes heat generation via geothermal probes and a photovoltaic system on around 1 300 m2 of roof area. “In this way, the entrepreneurial focus on sustainable and energy-efficient solutions for yarn production is reflected in the overall concept of the CAMPUS,” emphasized Rieter CEO Norbert Klapper.  The move into the new building is planned for 2024.

During its members meeting of June 2nd, 2021, the European Pultrusion Technology Association (EPTA) elected a new board. All EPTA board members who stood for re-election have been confirmed again. Dr. Elmar Witten, Secretary of the EPTA, is happy about the continuity in the line-up of the EPTA board. "We will continue the current marketing activities to promote the pultrusion process," said Witten.

Thus, the board members for the next 4 years are:
Dr. Luigi Giamundo, ATP srl., Italy (Chairman)
Alfonso Branca, TOP GLASS, Italy
Dietmar Kühne, Ernst Kühne Kunststoffwerk, Germany
Sebastian Mehrtens, Fibrolux, Germany
Eric Moussiaux, Exel Composites, Belgium
Martin Zelinka, Owens Corning, France

Pultrusion is an important and continuously growing segment in the composites industry. It is a continuous manufacturing process of linear composite profiles made of polymeric resins such as polyesters and fiber reinforcement such as glass fibers. Automated Pultrusion Production Technology facilitates today's High Quality and Low-Cost demands by the market.

Based on Article 27 of Regulation 3 on measures to combat the Corona Virus (COVID-19), the Board of Directors of Rieter Holding Ltd. decided that shareholders can exercise their voting rights exclusively by authorizing the independent proxy. Shareholders therefore could not attend the Annual General Meeting in person. The AGM was held on the premises of Rieter Holding Ltd. at the company’s headquarters in Winterthur.

At the Annual General Meeting of Rieter Holding Ltd. on April 15, 2021, the independent proxy represented a total of 2 084 shareholders who hold 63.6% of the share capital.

The shareholders approved the proposal of the Board of Directors not to distribute a dividend in view of the negative business result. In addition, they approved the proposed maximum total amounts of the remuneration of the members of the Board of Directors and of the Group Executive Committee for fiscal year 2022.

The Chairman of the Board, Bernhard Jucker, and the members of the Board of Directors This E. Schneider, Hans-Peter Schwald, Peter Spuhler, Roger Baillod, Carl Illi and Luc Tack were confirmed for an additional one-year term of office. Stefaan Haspeslagh was newly elected to the Board of Directors for a one-year term of office.

Furthermore, This E. Schneider, Hans-Peter Schwald and Bernhard Jucker, the members of the Remuneration Committee who were standing for election, were also each re-elected for a one-year term of office.

Shareholders also adopted all other motions proposed by the Board of Directors, namely the approval of the annual report, the financial statements and the consolidated financial statements for 2020, and formal approval of the actions of the members of the Board of Directors and those of the Group Executive Committee in the year under review.

Outlook Updated
As already communicated at the Results Press Conference on March 9, 2021, Rieter expects the market recovery to continue in 2021. The company expects an order intake exceeding CHF 500 million in the first half of 2021. For the first half of 2021, Rieter still anticipates that sales will be below break-even point. For the full year 2021, Rieter expects an operating profit.

• Waiver of dividend
• Expansion of Board of Directors

The shareholders of Autoneum Holding Ltd approved all proposals of the Board of Directors at today’s Annual General Meeting and agreed to forgo dividend payments. Liane Hirner and Oliver Streuli were newly elected to the Board of Directors. Based on Art. 27 of the Covid-19 Ordinance 3, the Board of Directors of Autoneum Holding Ltd decided to hold the 2021 Annual General Meeting without physical attendance by the shareholders. For this reason, the Company had asked them in advance to exercise their rights exclusively via the Independent Proxy. He represented 63.5% of a total of 4 672 363 shares.

The shareholders approved the Annual Report, the Annual Financial Statements and the Consolidated Financial Statements 2020. In view of the net loss in the 2020 financial year, the Board of Directors proposed forgoing dividend payments, which was approved by a large majority of the shareholders. Hans-Peter Schwald, Chairman of the Board of Directors, said: “2020 was extremely challenging for the entire automobile industry and also for Autoneum. The pandemic-related drop in revenue has impacted profitability. Despite the net loss, Autoneum reached important financial improvements in 2020. We expect to return to profitability in 2021 and our aim to distribute at least 30% of the net profit attributable to Autoneum shareholders as dividends remains unchanged. The Board of Directors, the Group Executive Board and the Company as a whole are committed fully to ensuring that Autoneum continues to make significant operational and financial improvements.”

Chairman Hans-Peter Schwald and the other members of the Board of Directors, Rainer Schmückle, Norbert Indlekofer, Michael Pieper, This E. Schneider and Ferdinand Stutz were confirmed in office. Newly elected to the Board of Directors were Liane Hirner and Oliver Streuli.

With Liane Hirner and Oliver Streuli and the resignation of Peter Spuhler, who did not stand for reelection in order to be able to focus on managing Stadler Rail, the Board of Directors of Autoneum Holding Ltd has expanded from seven to eight members. Hans-Peter Schwald explained: “The expertise of Liane Hirner and Oliver Streuli in the areas of finance and corporate management is of great value to Autoneum. As the Board of Directors, we look forward to this enhancement to the Board and to working with both of them.”

Peter Spuhler has been an important driving force since the Company became independent, he played a major role in shaping Autoneum thanks to his entrepreneurial expertise and showed great commitment to the Company. The Board of Directors thanks him sincerely and wishes him continued success.

This E. Schneider, Hans-Peter Schwald and Ferdinand Stutz were re-elected to the Compensation Committee. Oliver Streuli was elected as a new member of this committee. In addition, the shareholders of Autoneum Holding Ltd granted discharge to all members of the Board of Directors and the Group Executive Board with a large majority.

The consultative vote on the 2020 remuneration report was approved by 83.4%. Due to the severe impact of the coronavirus pandemic on the Group’s business development, the members of the Board of Directors renounced half of their compensation for the 2020 financial year and, in order to  align their remuneration with shareholder interests, decided to receive it entirely in Autoneum shares. In addition, a waiver of salary amounting to 10% of the basic salary for a period of three months was agreed upon with the senior management as part of a reduction of personnel costs.

The proposals for the remuneration of the Board of Directors and the Group Executive Board for the 2022 financial year as well as the other proposals were also approved by a large majority.

The National Council of Textile Organizations (NCTO), representing the full spectrum of U.S. textiles from fiber through finished sewn products, held its officer elections for fiscal year 2021 today.

NCTO has re-elected David Roberts, CEO of Cap Yarns, as Chairman and David Poston, President of Palmetto Synthetics, as Vice Chairman.

In addition to the appointment of a new chairman and vice chairman, NCTO elected chairs for each of its four councils. NCTO is comprised of four councils to ensure a broad representation of the industry supply chain. Each council has an allotted number of members who are elected to the association’s Board of Directors, in addition to the Executive Committee.*

“This is a critical juncture for our industry, which answered the call of the nation to produce lifesaving personal protective equipment (PPE) for frontline workers battling the COVID-19 pandemic,” said NCTO President and CEO Kim. “We will continue to engage with all stakeholders to press for policies that support the industry overall, help onshore PPE production and create a permanent domestic supply chain.”

*See attached document for more information.

• Mostafiz Uddin, Managing Director of Denim Expert Limited and Founder of Bangladesh Apparel Exchange (BAE) has won Sustainable Fashion Champion at the Drapers Sustainable Fashion Awards 2021, which took place virtually on 10 March.

On receiving the award, Mostafiz said he wants to be a game-changer in the apparel industry, leading by example to inspire others to behave responsibly and ethically.

He also dedicated the award to H&M which, he explained, supported his business, Denim Expert, through the pandemic by continuing to place orders He said the loyal support of the Swedish fashion giant almost certainly helped save the livelihoods of 2000 workers at his factory and their 10000 family members. “That’s true sustainability leadership,” he said.

The Drapers Sustainable Fashion Awards recognise steps being made in reducing the fashion industry’s environmental impact and creating fairer working conditions across the supply chain.
Judged by an independent panel of sustainability and fashion retail experts, the awards shine a spotlight on best practice within the global fashion industry.

Covid-19 has presented unforeseen challenges for fashion retailers and brands, but it has also given us all an opportunity to build back better. Forward-thinking fashion businesses know change is not optional, and are embracing their responsibilities and ability to make a difference.

Mostafiz Uddin has been recognised as the Sustainable Fashion Champion 2021 for setting examples in promoting sustainability during the Covid-19 pandemic which broke out worldwide in March last year.
Jill Geoghegan, Acting Editor of Drapers, said: “Despite the challenges thrown up by the Coronavirus pandemic, fashion brands and retailers increasingly recognise that sustainability is a business imperative.”  
“Many businesses continued to invest in cleaning up their supply chains and introducing new models of working, despite the unprecedented trading conditions.

“The Drapers Sustainable Fashion Awards highlight and celebrate these advancements, paving the way for a more responsible future for the industry.” Managing Director of Denim Expert Limited Mostafiz Uddin said: “In the pandemic, my factory Denim Expert Limited kept true to its commitment towards sustainability, despite an extremely difficult trading landscape.

“During the pandemic, I was vocal about the issue of buyer-supplier relationships and, in speaking out, I wanted to champion the cause of suppliers all over the world. Too often suppliers in garment supply chains do not have a voice because they fear that by speaking out, they will be treated unfavourably by brands.

“This was, of course, a risk on my own part but I like to think I stood up for what I think is right and ultimately, I believe progressive brands understood I was coming from a good place. Like them, all I want to see is a fair, ethical and sustainable industry where brands and retailers work in an environment of collaboration, not conflict.”

Mostafiz also had some special praise for H&M. He said: “It would have not been possible for me to support my workers during the pandemic, had my factory not received help from H&M during the unprecedented time. While Denim Expert suffered from huge orders cancellation and orders hold, H&M supported us by placing orders in the pandemic that saved thousands of lives and livelihoods. Therefore, I would like to dedicate this Award to H&M and its CEO Helena Helmersson.”

The judges of Drapers Sustainable Fashion Champion Award 2021 have been Kerry Bannigan, Founder, Conscious Fashion Campaign; Sarah Ditty, Global Policy Director, Fashion Revolution; Miriam Lahage, Founder, Aequip; Samata Pattinson, CEO, Red Carpet Green Dress; Caroline Rush, Chief Executive Officer, British Fashion Council; Lucy Shea, Group CEO, Futerra; Jane Shepherdson, Chairman, My Wardrobe HQ; and Dilys Williams, Director, Centre for Sustainable Fashion.

In early December, the chairman of the Walter Reiners Foundation of the VDMA Textile Machinery Association, Peter D. Dornier presented awards to six successful young engineers. Due to the Covid-19 pandemic, the award ceremony took place as a web conference for the first time.

Philippa Böhnke, ITM Dresden, and Juan Carlos Arañó Romero, ITA Aachen, were honoured with creativity awards for the cleverest bachelor or project work. The prizes are endowed with 3,000 euros each. Ms. Böhnke’s project dealt with composite implants for the repair and regeneration of bone defects. In his bachelor thesis, Mr. Arañó Romero has developed a spinning machine able to produce yarn with material from the moon. By this, the transport effort in space travel can be minimised, because insulating material for example necessary for a moon base can be produced on the moon directly.

Harry Lucas, TU Chemnitz, and Maximilian Speiser, Reutlingen University, were awarded two promotion prizes in the category master thesis with prize money of 3,500 euros each. The master thesis of Mr. Lucas deals with the development of a new knitting head for jacquard knitted fabrics, enabling a large variety of colours e.g. in the production of fan scarfs. Mr. Speiser showed in his master thesis a solution for increasing energy efficiency in the nonwovens process.

This year, two promotion prizes of the German Textile Machinery Industry in the dissertation category were awarded to Dr. Frederik Cloppenburg, ITA Aachen, and Dr. Annett Schmieder, TU Chemnitz. In his dissertation Mr. Cloppenburg developed a model for the optimisation of roller cards in the nonwovens process. Ms. Schmieder introduced in her dissertation a damage analysis system for fibre ropes. The system detects when a rope must be replaced e.g. in transport applications.

The award ceremony 2021 shall take place with physical presence again. It is scheduled for early May at the fair Techtextil in Frankfurt.

     Experienced people-centric leader to strengthen product and service capabilities

The leadership team of Baldwin Technology Company Inc. has appointed Joe Kline as its new President and CEO, effective January 17, 2020. Baldwin is a leading global manufacturer of innovative process-automation technology for the printing, packaging and converting industries. Acting CEO Kyle Chapman will continue as Baldwin’s Chairman, and devote greater focus to BW Forsyth Partners’ rapidly expanding portfolio. In 2012, Forsyth acquired thenpublic Baldwin and took it private.

Prior to joining Baldwin, Kline served as the president of a division in Eaton’s electrical sector. In addition, his previous experience includes commercial leadership roles at Eaton, Duke Manufacturing and Emerson. He holds a bachelor’s degree in electrical engineering from Ohio University and a Master of Business Administration in international business from Saint Louis University.

Kline’s appointment follows the 2019 appointments of four Baldwin business segment presidents: Rich Bennett at AMS Spectral UV, Tomas Anderbjer at Baldwin Precision Applications, Vince Balistrieri at Baldwin Vision Systems, and Matt Shishikura at Baldwin Japan.

Electronics For Imaging, Inc. has named veteran print technology executive Dr. Douglas Edwards as its Chief Technology Officer (CTO). Edwards replaces longtime technology leader Ghilad Dziesietnik, who recently retired after nearly 25 years with EFI - the last 14 as CTO. Edwards, who assumes his new duties today, has had an extensive career as a senior print executive and R&D technologist. Immediately prior to this appointment, Edwards was CEO of Cambridge, England-based Xaar plc, a leading developer of inkjet print head technologies for industrial printing, and Chairman of Xaar 3D Ltd - the company's 3D printing joint venture with Stratasys Ltd.

The Board of Directors of Autoneum Holding Ltd has appointed Matthias Holzammer, the former, long-term Head of Business Group Europe, as CEO with immediate effect. He is taking over from Martin Hirzel, who will be leaving the Company in agreement with the Board of Directors. Since the existing problems in North America are proving more challenging than expected, the Group's operating result in the second semester of 2019 will not improve, contrary to previous forecasts.

Matthias Holzammer has already demonstrated his operational expertise as the Company’s Head of Business Group Europe, which he successfully restructured from 2012 on and transformed into a highly profitable Business Group. Due to the severe operational and commercial issues in North America, the turnaround and improvement of results will take more time than expected. Matthias Holzammer will devote himself to this task with the highest priority, in order to return the Business Group and the Group back to profitability as quickly as possible. "In view of the current challenges in North America and the volatile global market environment, Matthias Holzammer is the ideal choice to lead the Company as CEO with his industry experience, knowledge of Autoneum and track record in restructuring”, said Hans-Peter Schwald, Chairman of the Board of Directors of Autoneum Holding Ltd.